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HealNow Raises $5.5 Million to Expand Checkout Solution for Pharmacies

HealNow, Pharmaceuticals, checkout, investments, funding

HealNow has secured $5.5 million in seed funding for its checkout solution for the pharmacy industry. 

With the new funding, HealNow plans to accelerate product development and expand partnerships with other pharmacy service providers, the healthcare technology company said in a Wednesday (Sept. 20) press release. The company aims to reach pharmacies of all sizes across various verticals, including retail, hospitals, universities and veterinarians.

By utilizing payments technology, the HealNow platform enables patients to schedule delivery or curbside pickup, purchase over-the-counter (OTC) items and pay for prescriptions online, according to the press release. This not only enhances the patient experience but also streamlines payment workflows for numerous pharmacies nationwide. 

While the largest pharmacy chains have an online presence, most pharmacies remain predominantly offline, meaning they are at a competitive disadvantage, HealNow CEO Halston Prox said in the release.

“Our mission at HealNow is to level the playing field, enabling any pharmacy to provide a seamless online checkout experience for their customers,” Prox said.

In addition to the funding, HealNow has announced partnerships with the healthcare organizations Omnicell, NCPA and APC. The platform has also integrated with pharmacy management systems like PioneerRx, Liberty and Keycentrix, according to the press release. 

Key features of HealNow include streamlined communication, integration with existing pharmacy management systems, advanced payment solutions and an enhanced patient experience, the release said.

The platform simplifies phone calls, payment collection and patient information gathering for pharmacies while accelerating medication payments, per the release. Patients can add OTC items, supplements and additional services during the checkout process, improving adherence to treatment plans and expanding the basket value for pharmacies.

The company’s seed round was led by Bonfire Ventures.

“In the next few years, we see HealNow becoming the de facto checkout solution for the pharmacy industry,” Mark Mullen, co-founder of Bonfire Ventures, said.

PYMNTS Intelligence has found that more than one-third of pharmacy consumers can be moved to reassess their loyalty to their favorite store based on digital capabilities.

In addition, roughly one-third of pharmacy shoppers said the ability to use their preferred payment methods is a leading influence on their loyalty, according to “Decoding Customer Affinity: The Customer Loyalty to Merchants Survey 2022,” a PYMNTS and Toshiba collaboration.